1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kenny6666 [7]
2 years ago
7

Compton Company expects the following total sales: Month Sales March $ 37,000 April $ 27,000 May $ 21,000 June $ 32,000 The comp

any expects 70% of its sales to be credit sales and 30% for cash. Credit sales are collected as follows: 25% in the month of sale, 75% in the month following the sale. The budgeted accounts receivable balance on May 31 is:
Business
1 answer:
Rina8888 [55]2 years ago
5 0

Answer:

$11,025

Explanation:

From May sales, Total Credit sales = $21,000*70% = $14,700

Cash Collected in May (for sales) = Total Credit sales * 25%

Cash Collected in May = $14,700*25%

Cash Collected in May = $3,675

Accounts Receivables Balance = Total Credit sales (May) - Cash Collected in May

Accounts Receivables Balance = $14,700 - $3,675

Accounts Receivables Balance = $11,025

So, the budgeted accounts receivable balance on May 31 is $11,025.

You might be interested in
The models for responding to either liked or disliked changes both end in
Nookie1986 [14]
<span>A. 
constructive direction.</span>
6 0
3 years ago
3. Analyze. Explain how scarcity is related
frosja888 [35]

Scarcity is the condition wherein the mean to and end (that is resources required to achieve set goals) are limited in relation to the goals that need to be achieved.

Because of the above, one has to carefully make their choice while allocating the resources accordingly.

<h3>What is opportunity Cost?</h3>

When a choice is made between two competing alternatives, it means that one alternative has to be foregone. The alternative foregone is called the Opportunity Cost.

<h3>What is a rationing device?</h3>

A rationing device is a system that determines who receives what of limited commodities and resources.

Price is one of the most regularly employed rationing techniques in a capitalistic (market-based) economic system.

Those who are willing and able to pay the price for a certain commodity (or resource) can obtain it.

Learn more about Scarcity:
brainly.com/question/4747543
#SPJ1

8 0
1 year ago
. A firm begins the year with a Book Value of $10 million. During the year it generates $5 million in net profits. It paid $1 mi
Keith_Richards [23]

Answer:

b) $12 million

Explanation:

The new Book Value of the firm at the bigining of next year is $12 million.

In the calulation of Net Pfofit, Interst on loan has already been deducted, so deducting it from the total calculation will be wrong.

hence, only dividend paid will be removed from the addition of the Book Value anf the Net profit.

Closing balance = Opening Book Value + Net Profit - Dividend Paid

Note - The Net Profit is already ne of interest on loan.

Closing balance = $10 + $5 - $3

Closing balance is $12

3 0
3 years ago
In your opinion ,what is the correct priority in making a business decision?#1 personel integrity,organizational values,profit..
kumpel [21]
The correct priority in making business decision is:

<span>#3 profit, organizational values,personal integrity.

The main reason why you put up a business is to gain profit. Thus, it is a priority. Second consideration would be the organizational values. Organizational values will determine the longevity of the company and the tenure of its employees.</span>
5 0
3 years ago
In which Step of production process are materials manipulated
12345 [234]

Answer:

tread count

Explanation:

different sizes

8 0
2 years ago
Other questions:
  • Cathy’s apartment was broken into and her two-year-old sound system was taken. Cathy had paid $1,400 for the system, but it will
    9·1 answer
  • Complete the bill of materials by calculating the extended cost of each component and the total materials cost for each brake sy
    7·1 answer
  • Telephone Sellers Inc. sells prepaid telephone cards to customers. Telephone Sellers then pays the telecommunications company, T
    10·1 answer
  • The ethics code at the company where quincy works sets forth a strict "no tolerance" policy for accepting gifts from suppliers o
    10·1 answer
  • 1. The Incident Command System (ICS) is only applicable to large, complex incidents.
    13·2 answers
  • Sweet Acacia Industries reported income taxes of $339,324,400 on its 2017 income statement and income taxes payable of $274,010,
    13·1 answer
  • Lenore, a single California taxpayer, has taxable income before capital gains of $78,000 and a long-term capital gain of $5,000
    8·1 answer
  • Garnishment cannot exceed what percent of the weekly take-home pay?
    10·2 answers
  • Explain why it is worthwhile to keep a theater open during the afternoon, at a time when there are fewer customers than in the e
    5·1 answer
  • The project management institute initially published the _________ to address the need to bridge the gap between organizational
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!